Spirent Communications PLC Director/PDMR Shareholding (5011J)
March 29 2018 - 12:51PM
UK Regulatory
TIDMSPT
RNS Number : 5011J
Spirent Communications PLC
29 March 2018
SPIRENT COMMUNICATIONS PLC (the "Company")
29 March 2018
DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of
Performance Share Award under Spirent Long-term Incentive Plan
The Company confirms that on 23 March 2018, the performance
conditions attached to 268,293 Performance Shares awarded to Paula
Bell on 30 September 2016 as part of her remuneration package on
appointment to the Company were tested, with the following
results:
50% of awards subject to EPS performance condition 50.90% vest
50% of awards subject to TSR performance condition 81.10% vest
As a result, 177,073 shares vested and became exercisable by Ms
Bell. Performance Shares forming part of this award which did not
vest have lapsed.
Awards of Performance Shares under the Spirent Long-term
Incentive Plan are not tax approved and therefore on vesting income
tax and social security deductions become payable by the
individual. To settle this tax liability, on 27 March 2018 Ms Bell
sold 99,977 Ordinary shares at a price of 114.492 pence per share.
Ms Bell then transferred the balance of 77,096 shares to a Person
Closely Associated, her partner Mr Dean Ritchie.
Following this notification, Ms Bell has the following
beneficial interests in the Company:
Director / Total number Total number
PDMR of of shares
shares held over which options
held
------------ ------------- --------------------
Paula Bell 227,096 572,344
------------ ------------- --------------------
1. Details of PDMR / person closely associated
--- -----------------------------------------------------------------------
Name Paula Bell
--- ------------------------------ ---------------------------------------
2. Reason for the notification
--- -----------------------------------------------------------------------
a) Position / status Chief Financial Officer
--- ------------------------------ ---------------------------------------
b) Initial notification Initial notification
/ amendment
--- ------------------------------ ---------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------
a) Full name of the Spirent Communications plc
entity
--- ------------------------------ ---------------------------------------
b) Legal Entity Identifier 213800HKCUNWP1916L38
Code
--- ------------------------------ ---------------------------------------
4. Details of the transaction(s)
--- -----------------------------------------------------------------------
a) Description of Ordinary shares of 3 1/3 pence
the financial instrument each
Identification
code GB0004726096
--- ------------------------------ ---------------------------------------
b) Nature of the transaction (i) Exercise of shares arising
from Spirent Long-term Incentive
Plan at nil-cost
(ii) Sale of shares to cover
tax and national insurance
liabilities
(iii) Transfer of shares to
Person Closely Associated
--- ------------------------------ ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------- ------------ ----------
(i) GBP0.0000 177,073
------- ------------ ----------
(ii) GBP1.14492 99,977
------- ------------ ----------
(iii) GBP0.0000 77,096
------- ------------ ----------
--- ------------------------------ ---------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
--- ------------------------------ ---------------------------------------
e) Date of the transaction 27 March 2018
--- ------------------------------ ---------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
(iii) Outside a trading venue
--- ------------------------------ ---------------------------------------
Enquiries
Michelle Balch Spirent Communications plc +44 (0)1293 767676
Deputy Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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